Ceres Power (LON:CWR) Shares Up 10.7% – Here’s Why

Ceres Power Holdings plc (LON:CWR) shares shot up 10.7% during trading on Wednesday . The stock traded as high as GBX 77.65 ($1.05) and last traded at GBX 77.50 ($1.05). 2,265,143 shares traded hands during mid-day trading, an increase of 35% from the average session volume of 1,672,751 shares. The stock had previously closed at GBX 70 ($0.95).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank dropped their price objective on Ceres Power from GBX 650 ($8.83) to GBX 340 ($4.62) and set a “buy” rating on the stock in a research note on Tuesday, February 25th.

Ceres Power Price Performance

The stock’s 50-day moving average is GBX 63.52 and its 200-day moving average is GBX 109.05. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The firm has a market cap of £158.85 million, a P/E ratio of -3.94 and a beta of 1.60.

Insider Transactions at Ceres Power

In other news, insider Stuart Paynter acquired 33,166 shares of the stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of GBX 60 ($0.81) per share, for a total transaction of £19,899.60 ($27,022.81). Insiders own 40.29% of the company’s stock.

About Ceres Power

Ceres is a leading developer of clean energy technology: electrolysis for the creation of green hydrogen and fuel
cells for power generation. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Bosch, Doosan, Delta and Weichai. Ceres’ solid oxide technology supports greater electrification of our energy systems and produces green hydrogen at high-efficiencies as a route to decarbonise emissions-intensive industries such as steelmaking, ammonia and future fuels.